Why insolvency doesn\’t have to be so bad
Thankfully, insolvency has moved on a lot since the days of Dickens. Unless you’ve actively committed fraud, you’re not going to prison. In fact, you’re not even going to be under house arrest. You’ll certainly be living on a tight budget, but your basic needs will be covered. All-in-all, therefore, modern insolvency has stopped being […]
What you need to know about consolidating debt
Given everything going on right now, it’s hardly a surprise that many people in the UK are looking at their debt situation and thinking about how to manage it. Debt consolidation may be an option for some people. It is, however, important to think about the situation carefully before you decide whether or not to […]
What to do when you can\’t pay your mortgage
The UK has to chart a path out of lockdown. It also has to chart a path into Brexit (and beyond). While it would be nice to think that this will all be plain sailing, it’s safer to assume that challenges will lie ahead and think about what steps you will need to deal with […]
Is debt ever written off?
Creditors are only obliged to write off debt when you become insolvent. Depending on your situation, however, it may be possible to agree to get a lender to write off some, or even all, of a debt without going down that path. You cannot get a debt written off by ignoring it In very particular […]
Paying off debt versus savings
If you have more money at the end of the month, then you have to decide what to do with the extra. If you’re carrying any sort of debt, then you basically have three options, pay it down, save or invest. Let’s look at what this means in practice. The pros and cons of paying […]
Can you get Help to Save?
Last September (2018), the government introduced a new “help to save” scheme, aimed at helping those on lower incomes to build up cash savings. Here is a brief guide to eligibility and how the scheme works. Who can join the help to save scheme? In order to join the help to save scheme, you need […]